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Prospect Capital Corporation Message Board

  • rlp2451 rlp2451 Sep 11, 2012 1:57 PM Flag

    PSEC Files 9.75 Million SPO With KeyBanc

    We have entered into an equity distribution agreement, dated September 10, 2012, with KeyBanc Capital Markets Inc., or "Key," relating to shares of common stock offered by this prospectus supplement and the accompanying prospectus. We sometimes refer to Key as the "Sales
    Manager."

    The equity distribution agreement provides that we may offer and sell up to 9,750,000 shares of our common stock from time to time through the Sales Manager, as our agent for the offer and sale of such common stock. Sales under this offering will not exceed the sum of $125,065,606 less sales under any other concurrent offering under our Registration Statement.

    PLAN OF DISTRIBUTION
    Upon written instructions from the Company, Key will use its commercially reasonable efforts consistent with its sales and trading practices to sell, as our sales agent, the common stock under the terms and subject to the conditions set forth in the Sales Manager's equity distribution agreement. We will instruct the Sales Manager as to the amount of common stock to be sold by the Sales Manager. We may instruct the Sales Manager not to sell common stock if the sales cannot be effected at or above the price designated by the Company in any instruction. We or the Sales Manager may suspend the offering of shares of common stock upon proper notice and subject to other conditions.

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